Jakarta, Indonesia Sentinel — Bitcoin prices plunged amid rising geopolitical tensions in the Middle East, as the conflict between Iran and Israel intensified following U.S. airstrikes on Iranian territory.
According to data from CoinMarket, Bitcoin dropped 0.39% in the past 24 hours to $100,844. The world’s largest cryptocurrency briefly fell to $98,467 on Sunday (June 22), marking its lowest level since May.
The broader crypto market also faced heavy losses. Ethereum fell 0.56% in the last 24 hours and has plummeted 12.65% over the past week. XRP dropped 1.09% in daily trading and is down 7.24% on the week.
Solana slid 1.05% over the past 24 hours and has declined 13.8% in seven days. Dogecoin lost 0.83% on the day and has shed 14.16% this week. Cardano also took a hit, falling 1.42% in 24 hours and 14.83% over the past week.
The escalating conflict erupted after U.S. President Donald Trump authorized airstrikes on Saturday (June 21) targeting three Iranian nuclear facilities, including the Fordow enrichment site, one of the most sensitive and internationally scrutinized uranium development centers in Iran.
The strikes, conducted in coordination with Israel, sparked short-term panic in global crypto markets. Analysts say the heightened geopolitical risk prompted investors to dump riskier assets amid growing uncertainty.
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According to data from crypto analytics platform Coinglass, more than $1 billion in crypto positions were liquidated in the past 24 hours. Of that total, approximately $915 million were long positions and $109 million were shorts.
Oscar Darmawan, chairman of Indonesian crypto exchange Indodax, told that the sharp drop was driven by a wave of sell-offs from investors seeking to avoid global volatility.
“Tensions like these often trigger heightened volatility in the crypto market,” Darmawan said on Sunday. “But for long-term investors, these conditions also present opportunities for consolidation and accumulation.”
He added that historically, the crypto market tends to rebound after geopolitical tensions ease. However, he cautioned that prices are likely to remain volatile in the coming week, depending on how the global situation unfolds.
(Raid/Aguing)
